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APRA's core functions

To meet its mandate, APRA’s three core functions are:

  • supervision – APRA seeks to identify and respond promptly to issues and risks at an individual entity, industry and financial system level, including enforcement activity as necessary;
  • policy – APRA seeks to establish and maintain a robust prudential regulatory framework; and
  • resolution – APRA seeks to plan for and implement prompt and effective responses to an entity failure or financial crisis.

Performing these functions requires APRA to have three core capabilities:

  • people and culture – APRA seeks to maintain its highly skilled and engaged workforce, supported by strong leaders, within a values-aligned corporate culture;
  • risk intelligence and frameworks – APRA seeks to maintain strong analytical capabilities, using available data and specialist expertise within structured frameworks, to support well-founded, risk-based decisions; and
  • organisational effectiveness and infrastructure – APRA seeks to maintain robust and efficient business support, transparent and accountable practices, and secure and reliable workplaces and systems.

These functions and capabilities, and the strategic initiatives designed to improve them, are discussed further in APRA’s Statement of Performance (Chapter 3).